Ras Al Khaimah, 10 November 2023: Ras Al Khaimah Economic Zone (RAKEZ) recently welcomed a delegation of distinguished business owners from Russia’s Ural Region, as part of their official visit to Ras Al Khaimah that aimed to explore the diverse investment and business opportunities that the emirate offers.

The sectors represented by the Russian delegation encompassed a wide spectrum, including real estate, trade, media, events, retail, investment funds, food product wholesale, business consultancy, engineering services, machinery, construction, facilities management, IT development, telecommunications, metalworks, and many more.

The visiting delegation, embarked on a comprehensive tour of Ras Al Khaimah's vibrant business landscape. Among the highlights of their visit was a comprehensive presentation hosted by RAKEZ, where they gained in-depth insights into the vast array of business opportunities available in the emirate. The presentation highlighted Ras Al Khaimah's strategic advantages, including its business-friendly policies, world-class infrastructure, nurturing business environment and the business set-up solutions RAKEZ offers to Russian investors.

"Ras Al Khaimah has consistently ranked among the top choices for Russians, and recent years have seen a significant surge in their interest," said Ramy Jallad, Group CEO of RAKEZ. "Today, RAKEZ is home to over 900 Russian companies, spanning from innovative startups and agile SMEs to large-scale manufacturers. This growing presence reflects the trust and confidence that Russian businesses have in our dynamic economic zone. Our commitment to fostering international partnerships and facilitating cross-border collaborations remains unwavering. We look forward to further strengthening our ties with Russian entrepreneurs and businesses as we collectively explore the abundant opportunities Ras Al Khaimah offers."

The delegation also engaged with prominent organisations in Ras Al Khaimah, such as RAK Ports, RAK Properties, and Al Marjan Island, as well had an opportunity to meet with one of the existing Russian business owners in RAKEZ, gaining firsthand knowledge of the emirate's investment climate and growth potential across various sectors.

The visit by the Russian delegation further strengthens economic ties and opens doors to potential collaborations between Ras Al Khaimah and Russian businesses. The emirate continues to be an attractive destination for international investors, with a strong focus on economic diversification and sustainable growth.

It is noteworthy that the trade turnover between Russia and the UAE witnessed substantial growth between 2017-2022. In 2022, the overall trade increased by nearly 68%, reaching USD 9 billion. Russian exports to the UAE surged to USD 8.5 billion, marking a 71% increase. Concurrently, exports from the UAE rose by 6% to USD 0.5 billion. The UAE holds the position of Russia’s 12th most important trade partner and ranks first among Middle East countries. It is also Russia’s largest trading partner among the GCC countries.

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For more information, please contact:
Cleo Eleazar, Public Relations & Events Manager, RAKEZ
Email: c.eleazar@rakez.com

About Ras Al Khaimah Economic Zone (RAKEZ):

RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 18,000 companies coming from over 100+ countries and operating in more than 50 industries.

RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers.

A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.